Iran's economy is sending an SOS signal. In May, the consumer price index rose 77.2% year-on-year, the highest since 1942.
According to AP, the monthly increase was 8.5% compared to April. Essential goods like medicine, taxis, tobacco, and communication saw a 113.8% annual rise.
The Bamdad Institute of Economic Research says these levels are unseen since World War II. Key causes include damage to Iran's business and oil sectors from US and Israeli strikes. In 2015, $1 equaled 32,000 rials; now it exceeds 1.7 million rials.
